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Keppel REIT's distributable income dips 1.9% YoY to $160.6m in 9M24

It attributed the decline to higher borrowing costs.

Keppel REIT's distributable income dipped by 1.9% YoY to $160.6m in 9M 2024 despite higher net property income.

The distributable income includes the REIT's anniversary distribution.

In its financial statement, the REIT attributed the decline in its distributable income to higher borrowing costs.

Meanwhile, the REIT's net property income (NPI) increased by 10.8% YoY to $148.5m in 9M 2024.

The REIT attributed its improved NPI to higher occupancy at Ocean Financial Centre in Singapore and KR Ginza II in Tokyo, Japan and contributions from 2 Blue Street and newly acquired 255 George Street in Sydney, Australia.

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